Short Interest in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) Drops By 20.3%

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 19,200 shares, a decrease of 20.3% from the October 15th total of 24,100 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 42,400 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ferguson Wellman Capital Management Inc. acquired a new position in NeuroBo Pharmaceuticals in the third quarter valued at approximately $50,000. Affinity Asset Advisors LLC acquired a new position in shares of NeuroBo Pharmaceuticals in the 2nd quarter valued at $432,000. Finally, Armistice Capital LLC acquired a new position in shares of NeuroBo Pharmaceuticals in the 2nd quarter valued at $3,373,000. Hedge funds and other institutional investors own 1.37% of the company’s stock.

NeuroBo Pharmaceuticals Trading Down 7.1 %

Shares of NASDAQ NRBO traded down $0.17 during midday trading on Friday, reaching $2.22. The company had a trading volume of 40,833 shares, compared to its average volume of 34,167. NeuroBo Pharmaceuticals has a 1 year low of $2.08 and a 1 year high of $6.75. The business’s 50-day simple moving average is $2.94 and its 200 day simple moving average is $3.67.

NeuroBo Pharmaceuticals (NASDAQ:NRBO) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.47). On average, analysts forecast that NeuroBo Pharmaceuticals will post -4.24 earnings per share for the current year.

NeuroBo Pharmaceuticals Company Profile

NeuroBo Pharmaceuticals, Inc, a clinical-stage biotechnology company focuses on developing and commercializing novel pharmaceuticals to treat cardiometabolic diseases. It develops DA-1241, a novel G-Protein-Coupled Receptor 119 agonist with development optionality as a standalone and/or combination therapy that is in Phase 2a clinical trial for metabolic dysfunction-associated steatohepatitis (MASH), and has completed Phase 1 clinical trial for the treatment of type 2 diabetes mellitus (T2DM); and DA-1726, a novel oxyntomodulin analogue functioning as a GLP-1 receptor and glucagon receptor dual agonist, which is in preclinical development for the treatment of obesity.